There's something people didn't understand. Traditional graphics doesn't work for bitcoin (usually). I think no one can know where it goes.
I 100% agree.
I like to watch Tone Vays because he's entertaining and he seems passionate about what he does. But he's really full of shit when he does his pointless analysis. And when he ever predicts right, it's because he actually has enough influence to change the market.
There are just personal opinions. In my opinion bitcoin will hit 100k dollars someday in future. Of course it can drop to 5k even 3k. But I believe in bitcoin and blockchain technology. So I don't sell. I think the real question you have to ask yourself is "what's my opinion?"
That's where I don't agree. Well first, blockchain isn't just BTC - which is btw the reason I sold a few of my BTC, I'm holding way more ALTs now, I had too many BTCs (which I only value like gold, but gold needs confidence).
As a programmer, I admire that it works, and I think it can have many uses. But not nearly as many as people think. Remember when the .com craze started, people were valuing shitty "cooking receipies" websites at crazy prices.
Also, I believe people put too much money on what are just -concepts- right now. I'm not surprised about it, because well, Kickstarter. The only coin that I valued when I got in, was REP, because Augur was close to being an actual app, for which on top of it profits do make sense (even though they make sense in ETH, not really REP, but that's another story).
A decentralized casino, a decentralized exchange? Hell yeah, that'd have advantages. A decentralized reduction coupon system for some brand? Well, give me a reason for that to need to be decentralized.
Decentralized currency? Sure, not really for us who are already used to pay instantly, using stable fiat, but for some countries, or fraudsters, yes. Question is, why should it be Bitcoin? Technically, I don't see why. I do see the trust, and that's the reason I invested in it in the first place, but it looks fragile, when you see so many peole leaving the boat instantly.
I don't think that blockchain & decentralization have that many uses. But if Bitcoin's technology has that much of an advance, I'd like to see where exactly. It has support, definitely. As a currency? Well it needs miners, while, as a programmer, my ideal decentralized currency would need no miners, at least not to verify transactions. In a system of *actually* used currency, it's people doing transactions who can also verify them.
Also, as a programmer, I would never value so much v1 of something. BTC is v1. It will forever be in history books. It's amazing that it worked/works, and paved the way for the future. BUT I'm a programmer, v1 is always far from the best. Sometimes you can patch things for years and still improve it. But really, often you just need to rewrite things. I don't think that BTC is "the best" because it was the first, I think the opposite.
Yet, I don't even believe this matters at all. People are there for money, they don't care about technology. XRP was pumped to second place, and it's not even decentralized. BCH was pumped to second place, and it's a copy/paste scam. People go where the money is, it's that simple.
Long-time hodlers sure care about technology, but here too, beware, there is always a new challenger to improve on your coin of choice, and make it worthless. ETH vs NEO? Who knows which one will win, if both, or any, will survive? Apps on the blockchain, totally. But using which technology? Perhaps not even one started yet. Sadly one can't simply invest "in blockchain".
